Market Leadership - Transformer Monitoring Market
The transformer monitoring market is projected to reach USD 3.7 billion by 2028 from an estimated USD 2.4 billion in 2023, at a CAGR of 9.1% during the forecast period. Factors such as these systems ensure proactive maintenance by detecting and addressing potential issues, minimizing downtime, and optimizing transformer performance, thereby enhancing reliability and reducing overall operational costs for power utilities.
The Transformer Monitoring market is served by a mix of large international players with global operational presence and local players with a strong domestic supply network.
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GE (US), ABB (Switzerland), Siemens Energy AG (Germany), Schneider Electric (France), and Eaton (Ireland) are the market leaders in the Transformer Monitoring market. These companies use strategies such as acquisitions, sales contracts, product launches, partnerships to increase their market share.
GE (US) is a GE Renewable Energy business that is part of GE Vernova, serves customers all over the world. Grid Solutions provides transformers, circuit breakers, voltage regulators, capacitors, reactors, panels, control tools, software, and switches, as well as services like automation, energy management, installation, engineering, and training. Grid Solutions provides services to the energy, mining, and oil industries all around the world.
In November 2021, the company combined the Aerospace business, Renewable Energy, Power, Digital and Energy Financial Services businesses, and was referred to as GE Vernova. In July 2022, the company announced the brand names for the future companies as GE Aerospace, GE HealthCare, and GE Vernova. The company operates worldwide, spanning across North America, Europe, Asia Pacific, and the Middle East & Africa, with a presence in approximately 170 locations.
ABB (Switzerland), specializes in power technology and industrial automation. They provide an array of products, systems, solutions, and services aimed at improving productivity, optimizing energy usage, and ensuring dependable power. Their product lineup encompasses drives, industrial software, measurement and analytics tools, PLC automation, robotics, power converters, inverters, and additional offerings. ABB functions through four key business divisions: Electrification, Robotics & Discrete Automation, Process Automation, and Motion. The company provides with transformer monitoring under the electrification segment. ABB Ability enabled digital solutions at its core, the offering includes low-voltage switchgear (up to 1 kilovolt) and medium-voltage equipment (1 to 66 kilovolts), indoor and outdoor circuit breakers, reclosers, fuses, contactors, relays, instrument transformers, sensors, motor control centers, as well as a wide range of air- and gas-insulated switchgear.
ABB has a presence in over 100 countries, with manufacturing units in Europe, the Middle East & Africa, South America, Asia Pacific, and North America.
Siemens Energy AG (Germany) is a firm that specializes in energy technologies. It designs, manufactures, sells, and installs multi-megawatt wind turbines, gas turbines, gas engines, steam turbines, and entire systems. Power generation, renewable energy, power transmission, power distribution, automation, smart grid compression and expansion, and mechanical drives are the key products and services provided by the organization. The company operates through two segments: Gas and Power, and Siemens Gamesa Renewable Energy. The transformer monitoring are provided under the Siemens Gamesa Renewable Energy segment.
The company has a global presence and operates in Europe, the Middle East, Africa, Asia Pacific, the Americas, and Australia.as
Schneider Electric (France) is involved in manufacturing and distribution of industrial engineering equipment which are used to optimize energy usage in the energy and infrastructure, industry, data centers, buildings, and residential sectors. The company operates in two business segments, energy management and industrial automation.
The company conducts operations in over 100 countries across Western Europe, North America, Asia-Pacific, and the Rest of the World. It has over 100 subsidiaries worldwide; major ones include Schneider (U.S.), Schneider (Europe) GmbH (Switzerland), Schneider Belgium N.V. (Belgium), and Schneider Electric (India).
Eaton (Ireland) is a power management company offering an extensive array of products focused on fuel-efficient systems and power chain management tools. Their operations span five distinct business segments: electrical, vehicle, hydraulics, aerospace, and mobility. Within Eaton's electrical division, they provide power distribution, power quality enhancement, control and automation solutions, along with monitoring products and services. These offerings primarily cater to industrial, institutional, governmental, utility, commercial, residential, and information technology markets.
Eaton operates in North America, Asia Pacific, Europe, South America, Middle East and Africa.
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